(Bloomberg) – The Russian owner of AFC Bournemouth is reviving a bid to sell the club now that it has once again reached England’s top football league, people familiar with the matter have said.
Owner Maxim Demin has appointed California-based consulting firm Montminy & Co. to help oversee the sale of the club and is “looking for a buyer to capitalize on the club’s continued success”, according to a document on the process – codenamed “Project Goal” — seen by Bloomberg.
Bournemouth, who have been promoted to the lucrative English Premier League this year, are already involved in talks with a group of investors, the sources said. Representatives for Bournemouth and Montminy declined to comment.
Demin acquired 50% of the club in 2011 and took full control two years later. Bloomberg reported in July 2021 that Bournemouth management had been in contact with a select group of potential investors and buyers.
Bournemouth could be valued at £130m ($150m) or more in any sale, according to Kieran Maguire, lecturer in football finance at the University of Liverpool.
American investors in particular have sought deals for English football clubs, in part attracted by the appreciation of the dollar’s exchange rate against the pound. They are also attracted by cheaper valuations compared to sports franchises in America and the high earning potential of competing in the richest football league in the world.
Bournemouth’s revenue is set to rise from £118.5m this year to £150.1m in 2023, according to the document. The club’s survival in the EPL isn’t guaranteed – despite currently sitting halfway through the league, above the relegation zone, they recently lost a game to Liverpool FC by nine goals to zero. Shortly after that defeat, Bournemouth sacked head coach Scott Parker.
Read more: Chelsea owner Boehly says decision to fire Tuchel was about vision, not results
(Updates with price estimate in fifth paragraph; head coach details in last paragraph.)
©2022 Bloomberg LP
Comments are closed.